MIDU vs. DBE
MIDU (Direxion Daily Mid Cap Bull 3X Shares) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - MIDU is a Leveraged Equities fund tracking the S&P MidCap 400 Index (300%), while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, MIDU returned 11.92%/yr vs 12.03%/yr for DBE. At a 0.31 correlation, their price movements are largely independent. MIDU charges 1.06%/yr vs 0.78%/yr for DBE.
Performance
MIDU vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, MIDU achieves a 37.63% return, which is significantly lower than DBE's 83.68% return. Both investments have delivered pretty close results over the past 10 years, with MIDU having a 11.92% annualized return and DBE not far ahead at 12.03%.
MIDU
- 1D
- -0.19%
- 1M
- 10.56%
- YTD
- 37.63%
- 6M
- 36.96%
- 1Y
- 65.54%
- 3Y*
- 26.41%
- 5Y*
- 2.59%
- 10Y*
- 11.92%
DBE
- 1D
- 2.33%
- 1M
- -5.45%
- YTD
- 83.68%
- 6M
- 74.95%
- 1Y
- 84.41%
- 3Y*
- 23.42%
- 5Y*
- 19.66%
- 10Y*
- 12.03%
MIDU vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MIDU Direxion Daily Mid Cap Bull 3X Shares | 37.63% | -2.75% | 20.32% | 27.79% | -49.27% | 72.89% | -18.31% | 77.38% | -39.21% | 46.86% |
DBE Invesco DB Energy Fund | 83.68% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 5.21% |
Correlation
The correlation between MIDU and DBE is -0.28, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jan 9, 2009 | 0.31 |
The correlation between MIDU and DBE shifts across timeframes, from -0.28 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MIDU vs. DBE — Risk / Return Rank
MIDU
DBE
MIDU vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Mid Cap Bull 3X Shares (MIDU) and Invesco DB Energy Fund (DBE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| MIDU | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.00 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.40 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.55 | 5.89 | -3.34 |
| Martin ratioReturn relative to average drawdown | 8.47 | 11.53 | -3.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MIDU | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.42 | 2.43 | -1.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 0.67 | -0.63 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | 0.43 | -0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.09 | +0.26 |
Drawdowns
MIDU vs. DBE - Drawdown Comparison
The maximum MIDU drawdown since its inception was -86.26%, roughly equal to the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for MIDU and DBE.
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Drawdown Indicators
| MIDU | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.26% | -86.69% | +0.43% |
Max Drawdown (1Y)Largest decline over 1 year | -25.80% | -14.41% | -11.39% |
Max Drawdown (3Y)Largest decline over 3 years | -60.41% | -23.89% | -36.52% |
Max Drawdown (5Y)Largest decline over 5 years | -64.14% | -38.74% | -25.40% |
Max Drawdown (10Y)Largest decline over 10 years | -86.26% | -60.84% | -25.42% |
Current DrawdownCurrent decline from peak | -4.20% | -30.27% | +26.07% |
Average DrawdownAverage peak-to-trough decline | -22.44% | -57.31% | +34.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.76% | 7.35% | +0.41% |
Volatility
MIDU vs. DBE - Volatility Comparison
Direxion Daily Mid Cap Bull 3X Shares (MIDU) and Invesco DB Energy Fund (DBE) have volatilities of 12.93% and 12.95%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MIDU | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.93% | 12.95% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 33.72% | 30.86% | +2.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.41% | 34.97% | +11.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.44% | 29.39% | +30.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.60% | 28.33% | +35.27% |
MIDU vs. DBE - Expense Ratio Comparison
MIDU has a 1.06% expense ratio, which is higher than DBE's 0.78% expense ratio.
Dividends
MIDU vs. DBE - Dividend Comparison
MIDU's dividend yield for the trailing twelve months is around 0.65%, less than DBE's 2.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.10% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% | 0.00% |
MIDU Direxion Daily Mid Cap Bull 3X Shares | 0.65% | 1.04% | 1.10% | 1.43% | 0.11% | 0.00% | 0.06% | 0.71% | 0.70% | 2.67% | 1.89% |
Frequently Asked Questions
MIDU and DBE have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (12.95%) compared to MIDU (12.93%). In terms of maximum drawdown, MIDU dropped -86.26% vs DBE's -86.69%.
On 10-year performance, DBE leads with 12.03% vs 11.92% for MIDU. On fees, DBE is cheaper at 0.78% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DBE has performed better with a 12.03% return vs 11.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBE is cheaper with a 0.78% expense ratio, compared with 1.06% for MIDU.
DBE has the higher dividend yield at 2.10%, compared with 0.65% for MIDU.
MIDU is categorized as Leveraged Equities, while DBE is Oil & Gas. MIDU tracks S&P MidCap 400 Index (300%), while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: Direxion and Invesco. Their fees differ too: 1.06% for MIDU and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (2.43 vs 1.42), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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